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viktelen [127]
3 years ago
5

The principle that each World Trade Organization member must accord to all other member countries tariff treatment no less favor

able than it provides to any other country is known as the __________ principle.
Business
1 answer:
Firdavs [7]3 years ago
8 0

Answer:

Most favoured nation principle

Explanation:

Most favoured nation (MFN) clause of the World Trade Organisation requires that when a nation trades with others the concessions, immunities, and privileges granted to one nation should be the the same granted to all WTO members.

It discourages discrimination where one nation in international trade is favoured above another.

For example if Ghana reduces tariff on trades with South Africa it is expected that tariffs to other WTO nations will also be reduced to 3%.

Exceptions to this principle are for developing nations, regional free trade areas, and custom unions.

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Partial-Year Depreciation Sandblasting equipment acquired at a cost of $42,000 has an estimated residual value of $6,000 and an
Deffense [45]

Answer:

A. Depreciation expense in 20Y5 = $900

Depreciation expense in 20Y6 = $3,600

B. Depreciation expense in 20Y5 = $2800

Depreciation expense in 20Y6 =$7840

Explanation:

Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

($42,000 - $6,000) / 10 = $3,600

The depreciation expense would be $3600 each year except in 20Y5. when the equipment was used from October to December which is 3 months

Depreciation expense in 20Y5 = 3/12 x $3600 = $900

Depreciation expense using the double declining method = Depreciation factor x cost of the asset

Depreciation factor = 2 x (1/useful life)  = 2/10 = 0.2

Depreciation expense in 20Y5 = 0.2 x $42,000 = $8,400

But the equipment was only used for 3 months, so we would divide the figure above by 3

$8400 / 3 = $2800

Depreciation expense in 20Y5 = $2800

Depreciation expense in 20Y6 = book value in the beginning of 20Y6 x depreciation expense

Book value = cost of the asset - depreciation expense in 20Y5

$42,000 - $2800 = $39,200

Depreciation expense in 20Y6 = $39,200 x 0.2 = $7840

4 0
3 years ago
Information related to Harwick Co. is presented below.1. On April 5, purchased merchandise from Botham Company for $38,700, term
Korolek [52]

Answer:

Explanation:

The journal entries are shown below:

On April 5

Merchandise Inventory A/c $38,700

              To Accounts payable A/c $38,700

(Being calculator purchased on credit)

On April 6

Merchandise inventory A/c Dr $830

           To Cash A/c $830

(Being freight is paid by cash)

On April 7

Equipment A/c Dr $28,900

              To Accounts payable A/c $28,900

(Being equipment is purchased on credit)

On April 8

Accounts payable A/c Dr $5,400

    To Merchandise Inventory A/c$5,400

(Being goods returned)

On April 15

Accounts payable A/c Dr $33,300 ($38,700  - $5,400)

     To Cash A/c   $32,301                   

    To Merchandise Inventory A/c $999 ($33,300 × 3%)

(Being due amount is paid)

3 0
3 years ago
As part of the overall systems engineering process, there are three software engineering/development approaches. When using the
shusha [124]

When using the Waterfall Approach, development activities are performed in order, with possibly minor overlap, but with little or no iteration between activities.

Explanation:

There is a seamless execution of software operation with perhaps a slight variation, but little or no repetition. User standards are identified, requirements are described and the whole system is designed, intended and tested at one moment in time for ultimate delivery.

A document-based approach better suited to structures of strongly precedent and reliable requirements.

Sometimes referred known as the great linear and sequential model, the waterfall model is also quite linear and sequential for the activity flow in this model, as its title suggests.

4 0
3 years ago
Thompson Company had $1,000 in office supplies at the beginning of the fiscal year. At the end of the fiscal year, Thompson Comp
Shalnov [3]

Answer: Amount of supplies expense = $700

Explanation:

Given the following :

Amount of supplies at the beginning of the year = $1000

Amount of supplies which remained unused = $300

Amount of supplies expense at the end of the fiscal year = Amount of used supplies

Amount of used supplies = (amount of supplies at beginning - amount of unused supplies)

Amount of used supplies = ($1000 - $300)

Amount of used supplies = $700

Therefore, amount of supplies expense = $700

3 0
3 years ago
Being debt free within the next 15 years is an example of which goal
marishachu [46]
I agree with the person above - being debt free within the next 15 years in an example of a long-term goal.
A short-term goal would involve hours, days, or even months. But here, we're talking about years, at least 15 of them, which is a long time during which many things can change. So it is definitely a long-term goal, given that it won't expire any time soon.
4 0
2 years ago
Read 2 more answers
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